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Stock-Based Compensation (Notes)
 9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation Stock-Based Compensation
We maintain long-term incentive plans for management, other personnel, and key service providers. The plans allow for granting stock-based compensation awards, based on CEC common stock (NASDAQ symbol “CZR”), including time-based and performance-based stock options, restricted stock units (“RSUs”), performance stock units (“PSUs”), restricted stock awards, stock grants, or a combination of awards.
2017 Performance Incentive Plan
In April 2018, the Company granted approximately 1.6 million PSUs that are scheduled to vest in three equal tranches over a three-year period. On each vesting date, recipients will receive between 0% and 200% of the granted PSUs in the form of CEC common stock based on the achievement of specified performance service conditions. Based on the terms and conditions of the awards, the fair value of the PSUs was initially set equal to the quoted market price of our common stock on the date of grant, but will need to be reassessed each reporting period.
Composition of Stock-Based Compensation Expense
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In millions)
2018
 
2017
 
2018
 
2017
Corporate expense
$
13

 
$
7

 
$
41

 
$
23

Property, general, administrative, and other
4

 
1

 
14

 
3

Total stock-based compensation expense
$
17

 
$
8

 
$
55

 
$
26


Outstanding at End of Period
 
September 30, 2018
 
December 31, 2017
 
Quantity (1)
 
Wtd Avg (2)
 
Quantity
 
Wtd Avg (2)
Stock options (3)
8,642,179

 
$
10.48

 
9,227,890

 
$
10.36

Restricted stock units (4)
16,964,640

 
11.72

 
17,274,659

 
11.22

Performance stock units (5)
1,535,385

 
10.25

 
—

 
—

____________________
(1) 
During the nine months ended September 30, 2018, 4.1 million RSUs were issued under the 2017 Performance Incentive Plan. There were no grants of stock options during the nine months ended September 30, 2018.
(2) 
Represents weighted average exercise price for stock options, weighted average grant date fair value for RSUs, and the price of CEC common stock as of the balance sheet date for PSUs.
(3) 
During the nine months ended September 30, 2018, 526,174 stock options were exercised.
(4) 
During the nine months ended September 30, 2018, 3,684,153 restricted stock units vested.
(5) 
No PSUs have vested during the nine months ended September 30, 2018.